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<br /> S, R�►rd or Propet�y In�uramce. Bore�owcr shell lceep the Improvementa now exiet ng or hereat�r erectod on the °
<br />— _:��4i��'�`��•�� Properry insured against loss by flre, l�axard5 i�icluded within tho term"extended covcmge" nnd nny ather hnzrirds. inciuding
<br /> - floods or flnoding,for which Lender requlres Insarance.Thia insuraaca shall tro�z�sint�inod in the amount�.end for tho perlexls —
<br /> that l.ender requires. 3'he lnsuranco carrter pmvlding tho insurance shalt be chosen by Borrowor aubject so Lcnder's apptav�t
<br /> which shall not be unreasanably withheld. It Borrower fa11s to matnteln coverage desedbed abovo, i.cnder may, st I.ender'�
<br /> option.obtain cavetage to protect Lender's dghts!n the Proper�ty In accordence wlth paragraph 7.
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<br /> Alt inaurence poltctes and renewels shail tre acceptable to Lender ar�d shalt inclade e standerd mortgugo cleuee. Lendet
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<br /> -- . - shali hava tha dght to hold Q►e polfcfes and anewals.If Le�xJer requices,Borrower shaii promptlY 8lvu to i.cndce uil ceccipis o
<br /> -- � paid premiums and renewal notices.L►the event of lass.Borrower shall givo prnmpt nodae to the imuraMx carrler and l.endor.
<br /> - � Lendor may make proof of loss if aot mado promptly by Borrower.
<br /> r ° Unless l,ender and Borrower otherwisa agree in writing�insucer�ce p�s shall be nppliod w restoration or repnir of the
<br /> � Prnperty damaged,if tho racwration or repair ia economic�lly feasible and Lender's security is not lasened. If the restoratton or
<br />- repair le aot economically feastble or L.ender's security would b�lessened.the lnstirance proceeda ehall be applied to tho sums
<br /> '" , secured by thia Sxurlty Instn�ment, whether or not then due. wlth any excess paid to Borrowcr.If Borrower nbandons the - -
<br /> , � , Praperty,or dces not aaswer within 30 days a notia from Lendet that the insurunce carder hes affered to settle a claim,then
<br /> ' L,ender muy colte�t the insurance proceeds. Lender may use the praceeds to mpair or restore tLe Property or to pay aums
<br />� , �`�'`w secured by thia Secudry Insuument,whether or not then�ue.The 30-day pedod wlll begin when the notice is given.
<br /> ��"��'�� Unless Lender and Borrower othetwise agrce in wr�tins. any application of proceeds to pdncipal shall not extend or
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<br /> , ,, postpone the due date of the monthly paymenta referred to in pafagraphs 1 and 2 or change the amouat of the payments. If
<br /> =����{Q�=���'�;�.;;f under paregraph 21 the Property is acquired by I.ender,Borrower's r3ght to any insurance poUcies aad proceoda resulting from
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<br /> - -'-- - ,. damage to the Yroperty prior to the acquiaicion shaII pass co Lernier iu tho eatcni ui'i8e ew�w aa:u,ai Gy tti{{s�cw-1ty ttisuvmart =
<br /> ' ... ^rr . . immediately prior to the acqulsltlon.
<br /> ' 6.Occuhaucy,Pi+eservaHon,Maintenaace and Protection of the Property;Borrower'e Loan Applicatioa;Leaseholde. �tt�
<br /> �; Borrower shall occupy.establtah,and use the Property as Borrowcr's pdnctpal residence within sixty days after the execution of �,,-
<br /> . this Security Instrument and sha11 continue w occupy the Properry as Bocrower's pdncipal resIdena for at least one year after �;.-
<br /> � the date of occupancy,unlesa Lender otherwlse agrees in wrldng,which consent shall not be unreasonably w[thheld.or unless �
<br /> �� . � extenuadng circumstances exist which are beyond Borrnwer's conuot. Borrower shall not desuoy, damage or impair tho
<br /> Pinperty,allow the Property to deteriorate,or commit waste on the Property. B�rrower shall be in dofault ff any forfeiture ����
<br /> ' action or proceeding. whether civll or crlminal. is be�un that In Lender's good faith judgment could result tn forfeiture of the
<br /> � ,, Property or otherwise materIally impair the Ifen create�by this Seturlry Instrument or I.ender's secudty interest. Borrower may ,,���
<br /> • •� cure such a default and reinstate.es provtded in paragraph 18,by causing the action or proceedtng to be dismissed with a ruling �
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<br /> that, in L.ender's good-faith determination.pcectudes forfeiture of the BoROwer's intemsc in the Properiy or othcr nwterld
<br /> � .. � impairment of the lien created by this Secudry Instrument or L.ender's secudty interest. Borrower shall also be in default 1f `�'_
<br /> ' Borrower,during the loan applicetton process,gave materially false or inaccurate informatlon or statements to C.ender(or failed ��:
<br /> �� to provide L.ender with any material Informatton)in connection with the loan evidenced by the Note, including,but not limited
<br /> . to. representations conceming Borrower's oaupancy of the Property as a pdnolpal residence. If thie Secur�ty Instrument is on a
<br /> , leasehold, Borrower shaU comply with all the provisions of the lease. If Bonower acquires fee title to the Property. the
<br /> � leasehold and the fee title shell not merge unless Lender agrecs to the merger in writing.
<br /> - • 7.Protection of I.ender's Rights in the Property.If Borrower fails to perform the covenants and agreemenu cnntained in
<br /> ° this Security Instrument, or there is a legal praceedins that may significantly affect Lender's rights in the Property(such as a
<br /> � . proceedin� in bankruptcy.probate,for condemnation or forfejture or to enforce luws ar regulatto�). then I.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property and L.ender's rights in the Property. Lender's actIons may
<br /> 4 include paying any sums secured by a lien whtch hex pr3or�ty over this Security Instrument. appearing in court. paying
<br /> reasonable attorneys' fees nnd entcring on the Property to mekc repairs.Although I.ender may take action under this paragraph
<br /> , 7, I.ender does not have to do so.
<br /> Any amounts Ji�bw•sed by Lender vndcr this paragraph 7 shall become additionat debt of Horrower secured by this
<br /> - Security Instrument. Unless Bonower and Lender s�ree to ather terms of payment, thesc amounts shall bear interest from the
<br /> ' date of disbursement at the Note ratc and shall bc paynblc, with interest, upon notice from Lender to Borrowec requesttng �
<br /> . �� payment.
<br /> . 8.Mortgege Insurance. If I.ender required mortgage insurance as a condition af muking the loan secured by this Secudty
<br /> Instrument. Borrower shall pay the premiums requind to maintain the mortgage insuruncc in effect. If. for any reason. the
<br /> mortgage insurunce coverage requireci by L.ender Inpses or ceuses to be in effect, &�nower ahall pay the premiums required to
<br /> obtain coverage substantiully equivalent to the mort�uge insurance previousiy in effect,ut a cost substantially equivalent to the
<br /> � cost to Bonower of the mort�age insurance previnusly in effect, fram un nitemate mnrtgu�e insurer approved by l.ender. If
<br /> substantiully equivalent mongage insurance coverage is not available,Bnrrower�hall pay tu I.ender each month u sum equal to
<br /> � one-twelfth of the yenrly mortgage insurunce premium being puid by Borrower when the intiurunce covera�e lapsed or ceased to
<br /> � �� be in effect.Lender will accept,use and retain thetie puyments a� a Iciss reserve in liru ��f rnort�age insurunee. Loss mserve
<br /> Form 3026 9/90
<br /> "� Pago 3 0l 6
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